Finance Charges on Two Credit Cards with the Same Stated

question 15

Multiple Choice

Finance charges on two credit cards with the same stated annual percentage rate:

• A) will always be the same.
• B) will be same as the rate calculated in the federal law.
• C) will be determined by the type of credit card used.
• D) will be determined by the method used to calculate balances.
• E) none of these

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Definitions:

Correlation Coefficient

A statistical metric that determines the strength of the connection between the relative changes of two variables.

Correlation Coefficient

A statistical indicator that measures the intensity of the link between the relative fluctuations of two variables.

Coefficient of Correlation

A quantitative index showing the magnitude and direction of a linear correlation between two variables.

Y-intercept

The point where a line or curve intersects the y-axis of a graph, corresponding to the value of the dependent variable when all independent variables are zero.